Required information

$[$The following information applies to the questions displayed below.$]$

On January $1,$ Save More Groceries purchased store equipment for $$23,500.$ Save More estimates that at the end of its $10$ year service life, the equipment will be worth $$3,500.$ During the $10-$year period, the company expects to use the equipment for a total of $10,000$ hours. Save More used the equipment for $1,620$ hours the first year.

Required:

Calculate depreciation expense of the equipment for the first year, using each of the following methods. $($Do not round your intermediate calculations.$)$

Activity$-$based.

preciation expense